Home Crowdfunding Dubai’s Eureeca attracts $400,000 (£304,136) in crowdfunding campaign

Dubai’s Eureeca attracts $400,000 (£304,136) in crowdfunding campaign

by Jonathan Adams

Dubai-based crowd funding platform Eureeca has closed a $400,000 (£304,136) self-funding campaign in 12 days.

The firm said it launched the round on July 26 after customers expressed an interest in investing in the platform itself.

It attracted 44 institutional and consumer investors from the UAE, UK, India, Saudi Arabia, the Netherlands, Italy, Canada and Jordan.

“We were both delighted and surprised that we were able to close the round so quickly and we feel that this firmly validates our position as a leader in equity crowdfunding and highlights the growing demand for a crowdinvesting marketplace offering a global solution,” said Sam Quawasmi, co-CEO and co-founder of Eureeca.

The funds will be used to boost Eureeca’s growth plans in continental Europe and Southeast Asia, after achieving UK Financial Conduct Authority approval in March 2015, and the development of its equity product offering.

This includes nominee structure investment services, crowdfunding insurance from American International Group (AIG), and a minimum-maximum raise feature for issuers.

Eureeca said it now has 12,000 active investors from 42 countries with an average investment of $5,900 (£4,485).

Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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